XPS Group finds sharp decline in green ratings among fiduciary managers
Consultancy says trustees can no longer rely on statements alone, but need evidence of integration, escalation, and impact
Swiss public pension funds weigh cross-canton expansion
Discussions are underway about widening membership beyond cantonal borders to include additional municipalities
Aon: Dutch pensioners see 13.6% pension rise in new DC arrangement
The one-off increases are due to the conversion of defined benefit accruals to defined contribution capitals as of 1 January
BaFin steps in as German pension fund falls short on management
BaFin says VdW Pensionsfonds was understaffed and unable to guarantee that it would fill vacant managing director position within required timeframe
Industriens stows €300m into Goldman Sachs European direct credit fund
Danish pension fund says commitment is its biggest unlisted credit investment yet, as allocation to the asset class expands
Auto-enrolment launches in Ireland
My Future Fund went live on 1 January
Italian pension fund tenders €100m domestic listed SMEs mandate
CDC aims to generate long-term value, support domestic economic growth and reinforce the capitalisation of Italian companies
Further M&A activity expected in UK pension and risk transfer market
Three of the 11 insurers active in the bulk annuity market announced acquisitions by international insurers in 2025
Italy launches new auto-enrolment regime
Move intended to boost pension fund membership
Social partner DC pensions edge forward in Germany despite reform doubts
Germany’s social partner DC pensions expand steadily, offering employees security despite lingering doubts over recent reforms
German plan sponsors opt for staged pension de-risking
Liquidity pressures push German plan sponsors towards staged and hybrid pension de-risking strategies despite economic stagnation
Germany launches €130bn fund to boost innovation and defence
Initial investments will focus on industrial and SMEs, start-ups and scale-ups, and the energy sector, particularly utilities
Alecta off hook over US bank losses after watchdog drops probe
Swedish pensions major is “stronger and safer” now, since implementation of its improvement programme, says CEO Hasslev
APG Asset Management CEO Ronald Wuijster to step down in 2026
Wuijster’s responsibilities will be taken over on an interim basis by Alineke van den Berge-Blindenbach
UK pensions regulator paves way for multi-employer CDC
TPR’s Nausicaa Delfas says the regulator is ‘determined to help turn a savings system into a pension system which provides a sustainable income through later life’
Finnish pensions reform to deliver twice the public finance boost it targeted
Pensions lobby TELA says ‘strongly supports’” approval of the bill
ESMA: Fossil fuel holding changes suggest fund naming guidelines effective
Fund managers are more likely to rebrand their funds when faced with higher divestment needs to comply with the rules, supervisor finds
Luxembourg pension reforms to provide flexibility
There will be more flexibility for phased retirement, such as working part-time while claiming a partial pension, if the employer consents
Italian pension funds double down on domestic private markets
First and second pillar pension funds are increasingly backing domestic SMEs, infrastructure, and venture capital to boost strategic returns
Aegon UK to extend private markets approach to £12bn LifePath default
The move is part of Aegon UK’s roadmap to align its Universal Balanced Collection and Aegon LifePath workplace default strategies
EIOPA: Liquidity stress test shows buffers keep IORP sector resilient
Increased focus on liquidity risks by industry participants and supervisors is strengthening preparedness, says EIOPA’s chair
Skanska and Peel Ports pension funds secure member benefits with buy-in deals
The separate transactions cover the pension liabilities of 5,500 and 2,000 members, respectively
ISSB to issue nature-related disclosure rules ahead of 2026 ‘biodiversity’ COP
The upcoming standard will address three core investor concerns
People moves: UBS Asset Management names investments co-heads
Plus: International Centre for Pension Management appoints two new board members; State Street Investment Management strengthens global leadership
AP7 tightens climate exclusions, drops Chevron, Petrobras
Swedish pensions giant accelerates pace of climate blacklistings, ruling out 35 companies in latest announcement
Lufthansa plans buyout take-off abroad to ease balance sheet turbulence
Airliner plans overseas DB pension buyouts to cut balance sheet risk, with Germany firmly off limits
Investor Forum backs new best-practice principles for pass-through voting
Clarity, oversight and transparency are key to effective pass-through voting, says London School of Economics (LSE) study
Demographics and labour shifts strain Italy’s first-pillar pension funds
Italy’s first-pillar pension funds face mounting pressure from ageing demographics, falling membership and labour market shifts
New framework launched to improve UK asset owner-issuer engagement
The Investor & Issuer Forum Compass sets out five enabling conditions for more effective engagement
PME replaces BlackRock in €5bn ESG equities portfolio
UBS AM and MN take over the pension fund’s ESG equity portfolio from the American manager
Norway SWF aims to halve manual processes through AI use
NBIM expects headcount to remain broadly stable: ‘AI acts as a force multiplier for our employees rather than a replacement,’ spokeswoman says
Avon pension fund to stay in defence, share member views with new pool
Pension fund decided to review investment in aerospace and defence sector following petitions for divestment from companies supplying Israel
Italian pension funds fight employer contribution portability
Italian pension funds warn budget law portability plans could weaken collective schemes and erode workers’ retirement outcomes
PFA reveals DKK40bn equities revamp cashed in on tariff-jitters bargains
“Timing could hardly have been more challenging,” says Danish pensions CIO of lifecycle profiles restructuring
Pension funds take climate targets more seriously than other financial institutions
Analysis of 600 funds names those adopting good practice and areas where improvements are needed
EIOPA flags private credit as growing financial stability risk
The Authority warns that insurers and pension funds’ rising private credit exposure poses growing systemic risks
German doctors’ pension fund makes first foray into crypto
First-pillar fund for physicians commits to €17m through two ETPs following a two-year test
UK government consults on raising trustee standards
DWP’s consultation puts forward proposals to increase knowledge and understanding requirements for trustees, and to improve trust board diversity
WTW’s master trust commits £400m to carbon transition credit fund
The investment is expected to rise to £1bn by 2027
UK master trusts invest £350m in public-private corporate credit ELTAF
Plus: Schroders Capital invests €100m seed capital in own ELTIF
Aviva launches solution for DB surplus transfers to DC funds
Surplus transfers could become a realistic option for some pension funds earlier than expected, Aviva says
Investors call for more transparency on impact of climate on future dividend payments
IIGCC updates expectations for reporting on climate impacts in financial accounts
Generali scraps plans to create joint venture with Natixis Investment Managers
Generali and BPCE, Natixis IM’s owner, failed to reach a final agreement following a non-binding memorandum of understanding signed in January
Italian pension fund moves €2.16bn to Luxembourg platform in new strategy
The overhaul coincides with the rollout of BCC CRA’s 2025–27 strategic asset allocation for its three sub-funds
German pension fund shuts down after capital collapse
Financial supervisor BaFin has revoked Babcock Pensionskasse’s licence to conduct business
Pensions UK revises voting guidelines to strengthen expectations
Three themes emerged as having particular relevance for 2026: capital issuance, nature and biodiversity, and cyber risk governance
WTW to acquire Cushon master trust
The acquisition adds £4bn in assets under management to WTW’s portfolio
Rantala report urges major overhaul of self-employed pensions in Finland
Jukka Rantala, former head of Finnish Centre for Pensions, puts forward proposals for increasing transparency and improving pensions adequacy for the self-employed
Germany’s pension reform unlikely to lift DC take-up
Germany’s pension reform introduces targeted measures, but consultants warn it won’t significantly boost DC plan uptake
DAX pension funds ramp up private markets as DC overhaul reshapes demand
Mercer expects German corporate pension funds to boost private markets exposure, combining core infrastructure and senior private debt
